English, Article edition: Spatial Aspects of Contagion among Emerging Economies George Hondroyiannis; Harry Kelejian; George Tavlas

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Physical Description
  • article
Language
  • English

Edition details

Title
  • Spatial Aspects of Contagion among Emerging Economies
Author
  • George Hondroyiannis
  • Harry Kelejian
  • George Tavlas
Physical Description
  • article
Notes
  • A spatial model is used to specify and then test for the existence of contagion among emerging market economies. We consider both trade and regional channels of contagion. Our results suggest that contagion is a statistically significant factor in foreign exchange markets and, furthermore, its effects are not uniform across the countries considered. Our results also suggest that trade links are significant channels of contagion transmission; on the other hand, geographic distances do not appear to be significant channels of contagion transmission. We also report results which indicate the extent of contagion. These results relate to effects which emanate from one country to another. Aspects spatiaux de la contagion parmi les economies emergentes Resume Nous faisons usage d'un modele spatial pour specifier, puis tester, l'existence d'une contagion parmi les economies des marches emergents. Nous nous penchons sur les vecteurs commercial et regional de cette contagion. Nos resultats indiquent d'une part que la contagion est un facteur significatif sur le plan statistique dans les marches a commerce exterieur, d'autre part que ses effets ne sont pas uniformes dans les pays examines. Nos resultats nous permettent d'affirmer egalement que les relations commerciales sont des vecteurs significatifs de transmission de la contagion; par contre, les distances geographiques ne semblent pas etre des vecteurs significatifs de transmission de la contagion. Nous presentons egalement des resultats qui soulignent l'etendue de la contagion: ces resultats portent sur les effets emanant d'un pays a un autre. Aspectos espaciales del contagio entre economias emergentes Resumen Se utiliza un modelo espacial para especificar, y luego se comprueba la existencia de contagio entre las economias de mercados emergentes. Consideramos canales de contagio, tanto comerciales como regionales. Nuestros resultados sugieren que el contagio es un factor estadisticamente significativo en los mercados de divisas, asi como que sus efectos no son uniformes a traves de los paises considerados. Nuestros resultados tambien sugieren que los lazos comerciales son canales significativos para la transmision de contagio; por otra parte, las distancias geograficas no parecen ser canales significativos de transmision de contagio. Tambien incluimos resultados que indican la extension del contagio. Dichos resultados se relacionan con efectos que emanan de un pais a otro. [image omitted]
  • Contagion, Currency crises, Spatial Modelling,
  • RePEc:taf:specan:v:4:y:2009:i:2:p:191-211
Language
  • English
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